The Maldives Monetary Authority (MMA) has launched a nationwide competition encouraging participants to transform shredded and unfit polymer banknotes into creative designs and artworks.
The initiative, titled “Crafted by Currency: Shredded Notes Reimagined,” is part of MMA’s broader sustainability efforts, aiming to give discarded currency materials a new purpose through innovation and creativity.
The competition features two categories: a Souvenir Design and Production Competition, which focuses on developing items that can be reproduced as official souvenirs and gifts, and an Artwork Competition, which invites participants to create original pieces using shredded banknotes as the primary material.
According to MMA, selected entries will be exhibited at the Financial Expo 2026, providing a platform for participants to showcase their work to a wider audience.
The competition is open to Maldivian individuals, teams, artisans, designers, and businesses. Participants may choose to enter either one category or both.
Cash prizes have been announced for winners in each category. In the souvenir competition, first place will receive MVR 10,000, followed by MVR 5,000 and MVR 3,000 for second and third place respectively. Winners may also be given opportunities to produce their designs for MMA under separate agreements.
For the artwork category, the top prize is MVR 15,000, with second and third place winners receiving MVR 10,000 and MVR 5,000 respectively.
Interested participants are required to submit their proposals and completed applications before 11:59 PM on May 14, 2026, via email.
MMA has also made a detailed participant guidebook available online for those seeking further information:
Participant Guidebook
Officials say the competition is intended to promote sustainable practices while encouraging artistic expression and innovative thinking across the country.
